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Thursday 19 October, 2006

Brambles Industries

Cash Alternative Booklet

Brambles Industries PLC
19 October 2006


19 October 2006

                              ALTERNATIVE BOOKLETS

On 13 September 2006, Brambles released the Information Memorandum to be sent to
shareholders in connection with the proposed unification of Brambles Industries
Limited ('BIL') and Brambles Industries plc ('BIP') under a single Australian
holding company - Brambles Limited - with a primary listing on the Australian
Stock Exchange ('ASX') and a secondary listing on the London Stock Exchange

As indicated in the Information Memorandum, it is intended that a Cash
Alternative will be provided as part of the Unification. Under the Cash
Alternative, shareholders (other than ineligible overseas shareholders) will be
able to tender all or part of their BIL or BIP shareholding to Brambles Limited.
Subject to Brambles Limited's rights below, if such a tender is successful and
the Unification proceeds, the tendering shareholder will receive cash for the
shares which are the subject of their tender under the BIL and BIP schemes of
arrangement ('Schemes'), instead of receiving Brambles Limited shares. The
maximum aggregate amount that Brambles Limited will make available under the
Cash Alternative is US$2.2 billion. Brambles Limited has also reserved the right
to withdraw the Cash Alternative under the Schemes.

Brambles today announced that the Board has determined the range of prices at
which shareholders in BIL and BIP (other than ineligible overseas shareholders)
will be able to tender all or part of their BIL or BIP shareholding to Brambles

   • the Australian dollar price range is between A$12.00 and A$13.00, in
     A$0.10 intervals; and

   • the pound Sterling price range is between 480 pence and 520 pence, in 4
     pence intervals.

The BIL Cash Alternative Booklet and BIP Cash Alternative Booklet, drafts of
which were contained in the Information Memorandum, will be mailed to
shareholders of both BIL and BIP respectively on or around 23 October 2006, and
will also be available on Brambles' website ( The Cash
Alternative Booklets describe the actions to be taken by shareholders who wish
to tender their shares into the Cash Alternative. Participation in the Cash
Alternative is entirely at the individual shareholder's discretion. A full
description of the Cash Alternative is contained in the Information Memorandum
and the Cash Alternative Booklets.

The latest time and date to lodge a Cash Alternative Election Form is 7:00pm
AEDT on 16 November 2006 for BIL Shareholders and 11:00am London time on 16
November 2006 for BIP Shareholders. The Unification (and therefore the Cash
Alternative, subject to Brambles Limited's rights as indicated above) will only
proceed if the Schemes are approved by BIL's shareholders, BIP's shareholders
and the Courts, and then become effective.

If shareholders have any questions after reading the Cash Alternative Booklet,
they should call the Brambles Unification Information Line on the following

   • for BIL Shareholders - 1800 250 297 (toll free if calling from within
     Australia) or +61 2 8280 7610 (if calling from outside Australia); and

   • for BIP Shareholders - 0800 028 2349 (toll free if calling from within
     the UK) or +44 1903 276 342 (if calling from outside the UK).

Brambles Industries Limited

Brambles Industries plc

Brambles Limited

                Brambles is globally headquartered in Australia

For further information

John Hobson, Head of Investor Relations        +61 (0) 2 9256 5216
                                               +61 (0) 407 436 711 (mobile)
Michael Sharp,                                 +61 (0) 2 9256 5255
Vice President, Corporate Affairs              +61 (0) 439 470 145 (mobile)

Sue Scholes, Head of Investor Relations        +44 (0) 20 7659 6012

Richard Mountain, Financial Dynamics           +44 (0) 20 7269 7291

                      This information is provided by RNS
            The company news service from the London Stock Exchange